Kickflow A Quadratic Crowdfunding Platform For Startups Is Now Live On Tezos Mainnet
Kickflow a quadratic funding platform for crowdfunding is now live on Tezos mainnet. Kickflow along with its governance token will enable startups in the Tezos ecosystem to crowdfund and receive grants through mathematically optimal algorithms.
Kickflow Goes Live On Tezos Mainnet
The Kickflow project was developed as part of the Tezos India Fellowship program operated by Tezos India and it represents the first-ever decentralized, open-source crowdfunding and grants platform on Tezos.
Users can login to the website using Twitter and Github, and many different Tezos wallets are supported. As Kukai is supported, the whole account setup including whitelisting and project listing process can be done using just a Twitter account.
The Tezos community now has a chance to have their projects supported by the community, or to facilitate, promote and sponsor public goods on Tezos.
Utilizing the concepts of Capital-constrained Liberal Radicalism (CLR) and Quadratic Funding, the platform, along with its governance token, will allow projects to seek funds matched through the mathematically proven algorithm.
Commonly used for Public Goods Funding, the algorithm matches community-backed projects to optimal sponsor grants amounts, based on the square of the sum of the square roots of the contributions, received during a stipulated period of time.
In turn, this incentive structure pushes power to the edges and away from whales and central power brokers increasing democracy.
Kickflow aims to develop an open-source and community-controlled crowdfunding DAO platform that would help other projects in the Tezos ecosystem grow and also bring attention to the newer projects which often fall under the radar.
It also aims to transform itself into a full-fledged support platform for open-source projects on Tezos and provide advanced services like money-streaming-based grants. It has on its roadmap the plans to develop a freelance bounties platform, a really helpful testnet token faucet for projects.
According to Crunchbase, global venture funding for 2020 closed out at $300 billion (up 4% year on year), primarily due to the disruption caused by the pandemic, and the resulting shift of major sectors online.
Global blockchain technology has seen and will continue to see steady growth, with the industry being valued at $3 billion USD at the end of 2020.
Kickflow will enable targeted growth to community-backed projects, reducing barriers to entry and decentralized crowdfunding on Tezos.
Kickflow’s mechanism uses the concept of match-funding to give proportional power and funding to the public and the corporations involved. It offers a social spin on an otherwise money-centric decision-making framework.
Kickflow can also conduct completely on-chain funding rounds. managed by a decentralized autonomous organization (DAO). This allows all executive decisions to be made via a token voting system utilizing Kickflow’s native tokens, KFL on Tezos.
Katherine Ng, Head of Marketing at TZ APAC commented:
“We are delighted to welcome a much-needed platform on our blockchain to continue our Tezos vision of empowering the blockchain ecosystem globally.
Kickflow has brought forth a solution that will not only enable our platform to help innovators and startups, but also ensure simultaneous social development.
With the mechanisms of Liberal Radicalism and Quadratic Funding at hand, we wish to give the start to many overlooked but potential projects in need.
We plan to decentralise our future and by giving this power to the public through Kickflow and its native governance token, we are one step ahead.“
Om Malviya, President, Tezos India stated:
“I am personally looking forward to the launch of Kickflow. The project emerged as an idea from TIF (Tezos India Fellowship), and we are glad to have become a part of their journey.
From the initial idea to helping them meet their co-founders, to building a fully-fledged product on Tezos. I believe Kickflow will bring a new way of crowdfunding to Tezos, helping hundreds and thousands of projects to source funding and grants for their efforts. That will result in a thriving developer community on Tezos.”
Anshu Jalan, Co-founder, Kickflow added:
“We are glad to launch our highly anticipated Kickflow on the Tezos Ecosystem. The self-amending nature of the Tezos platform along with its ever-growing community of bakers on the self-upgradable, decentralised, and growing Tezos platform made it the ideal platform to kickstart the Kickflow journey.
There are a large number of projects that are quickly building up on Tezos and we realize that it is about time we have an open-source crowdfunding platform to give these young projects a kickstart.
While we are starting out as a platform for Tezos specific projects to get funded, we aim to extend our protocol to include public goods in general, where open-source products and community causes could also raise funds.
Tezos and Kickflow have the same foresight regarding the future of the blockchain space and thus, this whole process has been a seamless experience.
With Kickflow, we aim to create a great product for the Tezos ecosystem that would help grow as many projects as possible through community contributions”
With the help of TZ APAC, Kickflow has had a jumpstart into the funding world and will continue to revolutionize it through its KFL governance token and its self-upgrading and self-evolving protocols.
If you are interested in funding exciting projects in development or are seeking funding for your own project,on Tezos, visit https://kickflow.io/
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